AUSTRAC regulatory expectations for the implementation of the AML/CTF reforms
AUSTRAC has released a statement of regulatory expectations to support businesses to implement the changes under the AML/CTF reforms. The reforms to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) will commence on 1 July 2026 for tranche 2 entities being businesses in the legal, accounting professions, real estate and jeweller industries. For businesses currently regulated the reforms will commence on 31 March 2026. For those businesses who w
Understanding Directors' Duties
Legal Responsibilities in Corporate Governance Directors of companies have significant legal responsibilities. Specific duties apply to directors in carrying out their role. Who is a Director? The Corporations Act states that a “director”, is a person who is appointed to the position of a director (or alternate director) or someone acting in the position of director. The Role of Directors The primary responsibilities of directors include strategic decision-making, oversight
